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Life Insurance In Your 30s

life insurance in your 30s

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

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Many people buy life insurance in their 30’s because this is the time many of us begin to settle down and raise families. Many hesitate to purchase insurance because they worry that the cost will be too expensive for their budgets.

However, there are a variety of affordable options available that make the purchase attainable for many 30-somethings.

This article will help identify the pricing options, coverage and other factors that someone in their 30’s should consider when purchasing life insurance.

Life Insurance for 30 Year Olds

There are two major types of life insurance, term, and whole life. Each type has its advantages and disadvantages. The major factors basically boil down to the price and the type of coverage.

Those in their late 20s and early 30s should consider the amount of coverage that they will need to help protect their income in the future. Term life insurance is generally much cheaper than whole life for the same amount of coverage.

This is beneficial to a young family who is at the beginning of the earnings scale. By the time they reach their senior years, their children have probably grown in adulthood and are supporting themselves. Thus the needs are less and the switch to lesser coverage can occur.

Which Life Insurance Is Best at Age 30?

There are several questions that you can ask yourself when you’re trying to decide which kind of plan is going to be best for you. It’s important that you buy the right kind of coverage to protect your family.

The first question that you should ask yourself is how long you will need life insurance coverage? If you think that you’ll only need insurance coverage until you’re 50, then 20-year term insurance should be at the top of your list. It’s important that you aren’t paying for years of life insurance that you don’t really need.

On the other hand, there are some people that anticipate wanting life insurance for the rest of their lives. If you’re one of those people, then a whole life insurance policy will fit your needs perfectly.

The next question that you should ask is, how much do you want to spend on your life insurance protection. Most applicants want to spend as little as possible on their life insurance plan. If you’re one of those people, then a term insurance policy is going to be best. If you don’t mind spending more money for your coverage, then you can explore other options.

Is No Exam Life Insurance a Good Idea?

Maybe you don’t want to wait for life insurance or you don’t want to go through the blood sample, look no further than a no exam policy. Life insurance without the cumbersome medical exam, sounds perfect, right?

Let’s look at some of the pros and cons first. Without the exam, you can be approved much quicker. You’ll get your decision in days.

Let’s look at the bad side now. It’s simple, they are expensive. No medical exam policies are going to cost you more. If you want to get cheap coverage, you have to take the exam.

Life Insurance Rates in Your 30’s

Insurance rates will vary depending on the insurance company. Compare rates among the top tier insurance companies so that you will get the biggest bang for your buck.

Rates may also vary according to whether the insured is a smoker or nonsmoker. Of course, a smoker will pay a significantly higher premium due to the unhealthy nature of smoking.

A male that is in his mid-30s and is a non-smoker can expect to have premiums that range from $37 to around $42 per month.

This is from a sampling of quotes from companies that are rated A or A+ by A.M. Best.

A.M. Best is the company that rates insurance companies on their services, financial standing, years of service, and other factors.

Getting Affordable Life Insurance In Your 30’s

One of the most common worries of applicants in their 30’s is that their plan will drain their bank account in premiums. Luckily, 30-year-olds are still young enough to get low rates. Let’s look at some of the ways we recommend our clients snatch the cheapest premiums.

First things first, it’s time to finally snap the bad habit of smoking. Anyone who is a smoker needs to budget twice as much for their plan. Quitting isn’t easy, but just imagine the thousands of dollars.

The exam is a huge role. Better results from the exam mean better rates. Before you start applying, get in shape. Going for a run and picking a salad instead of fries can give you more energy during the day and more money in your wallet at the end of the month.

Some companies are better for applicants in their 30s. If you want to save money, you need to pinpoint the company with the cheapest rates. Unless you want to do the work yourself (and who would want to do that), the best way to find those rates is to partner with an independent life insurance broker.

Finding The Best Life Insurance at Age 30 and Up

To find the best rates, one should compare quotes from a variety of top-rated, well-established insurance companies. To aid in securing these quotes, you can do that right on our website.

This will save you time and money by not having to contact multiple companies or visit multiple websites to get quotes. We represent over 30 top-rated companies that have ratings of A or A+ by A.M. Best.

We are licensed with dozens of agencies. We can create a personalized set of life insurance quotes. If you wanted to do this work, it would take you several days.

You probably don’t want to spend your weekend thinking about dying. It’s morbid. That’s where we come in. We can make the whole process much quicker and less stressful.

Compare quotes right on this page, or call us at 800-712-8519 to discuss your life insurance needs.

Picture of Doug Mitchell, CLU

Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent close to 30 years in the life insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health. Some other notable items about Doug: Top of the Table Million Dollar Round Table member (MDRT). (MDRT is a global, independent association of the world’s leading life insurance advisors) | Premier Partner with Lincoln Financial and Cabinet Member | Served two years as President of the Auburn/Opelika Association of Financial Advisors | Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award | New York Life, Executive Council Member | Currently serves as President of Ogletree Financial, a life insurance General Agency. | Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

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